RenaissanceRe (NYSE:RNR) Receives Market Perform Rating from JMP Securities

RenaissanceRe (NYSE:RNR)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group restated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on shares of RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Bank of America increased their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $283.00.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $235.64 on Thursday. The company has a market capitalization of $12.24 billion, a PE ratio of 3.40, a P/E/G ratio of 1.90 and a beta of 0.44. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $261.17 and a two-hundred day moving average price of $257.28. RenaissanceRe has a 12 month low of $208.98 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. Analysts expect that RenaissanceRe will post 42.52 EPS for the current year.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RenaissanceRe

Several hedge funds have recently made changes to their positions in RNR. Algert Global LLC purchased a new position in shares of RenaissanceRe during the 2nd quarter valued at $1,186,000. Rockefeller Capital Management L.P. purchased a new stake in RenaissanceRe in the third quarter valued at approximately $3,684,000. Fisher Asset Management LLC lifted its position in RenaissanceRe by 12.3% during the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after purchasing an additional 8,844 shares during the last quarter. Geode Capital Management LLC grew its stake in RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after buying an additional 23,956 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.